Effective Strategies for Development of Tourism Sector: A Critical Review

Abstract

The tourism sector is gaining increased importance for the economic development of countries around the world. Tourism sector has emerged as an important sector of Indian economy and contributes substantially in the country’s Foreign Exchange Earnings. Tourism is the third largest foreign exchange earner after gems, jeweler and readymade garments and represents vibrant economic sector with overwhelming growth and revenue generation. The purpose of this paper is to give a theoretical overview of the classical and contemporary business strategies that can be implemented in a more or less modified form for the development of tourism sector.